# Marginal Effect of Financial Openness (dCA/dKAOPEN)

The marginal effect of a one-unit increase in KAOPEN on CA/GDP,
evaluated at each country's demographics (current and projected).

| Country | KAOPEN | Current | 2030 | 2040 | 2050 |
|:--------|------:|-------:|-----:|-----:|-----:|
| JPN | 2.28 | +4.60 | +5.19 | +6.43 | +7.52 |
| DEU | 2.28 | +1.41 | +1.43 | +3.93 | +4.77 |
| USA | 2.28 | -0.01 | +0.33 | +1.80 | +1.43 |
| KOR | 2.28 | -1.28 | -0.61 | +3.38 | +6.68 |
| CHN | -1.25 | -2.29 | -2.08 | +0.16 | +2.16 |
| IND | -1.25 | -1.58 | -2.56 | -2.67 | -3.11 |
| BRA | -1.25 | -1.91 | -2.38 | -1.35 | -0.74 |
| NGA | -0.68 | -0.76 | -1.48 | -1.65 | -2.89 |
| IRN | -1.94 | -2.62 | -3.43 | -2.80 | -1.68 |
| VNM | -0.17 | -2.39 | -2.88 | -1.76 | -1.21 |
| BGD | -1.25 | -1.00 | -2.02 | -2.13 | -2.72 |
| GTM | 2.28 | -0.50 | -1.68 | -2.53 | -3.77 |

*Positive = further opening improves CA; negative = further opening worsens CA.*
*Based on extended model: dCA/dKAOPEN = -0.44 + 21.62·Z₁ + (-3.58)·Z₂ + 0.155·Z₃*
